Valuations

polar964 · Aug 14, 2014

Received a phone call out of the blue form Norton (Heritage) today, confirming a valuation that was already in place for this years policy. When I mentioned that my enquiry a few weeks back was in regard to increasing it as my renewal was due, the conversation became more confusing.
Norton then asked me, "what car is it you have? quickly followed by "a Porsche 993 isn't it?"!
I thought hmmm! They asked some other bizarre questions, before saying that they would phone me back [&:]

Oh it was me they had intended to phone as they confirmed my name,post code and address!!

This has re-affirmed my decision to change insurers this renewal!

AVI_8 · Aug 20, 2014

Hi I recently had my var valued by John Glynn, his email is john@johndglynn.com
Cost £35 and took less than 1 day, he valued mine at £33K so I'm happy with that.

Dekker · Aug 28, 2014

It was suggested on another thread, about the same topic, that PCGB should stop doing valuations and instead provide assistance if ever a claim were to be made. This would stop the annual valuation circus and cut down on admin.
Also as market values of the 964's have more than doubled in 12 months, getting short changed by the insurance company because of an outdated valuation.

I bought my C2 last year for £12k with 111k after the seller was only offered £10k from the Indy he'd had it serviced at the previous 12 years.
I've since read the history and found that the engine had a top end rebuild at 50k, new clutch and flywheel at 70k, front wishbones 102K and an oil thermostat at 107k
I've put strengthened engine carrier, RS engine mounts, Bilstein PSS10 coil overs with Rennline Monoball top mounts and about to put some split rims on her.
With 115k on the clock I would would be disappointed with less than £35K but doubt it would be valued as high by a Glasses guide with such a high mileage, but with PCGB behind me, maybe not. However in 6 months time it could be anything 20-45k as prices might be at the top of a bubble or on the way up.
I suspect that when the interest rates go up there will be more sellers and that will bring valuations down, but who knows for sure.

colin129 · Aug 28, 2014

The top price cars, like the one at JZM at £35K, have had recent engine rebuild, body off respray and retrim. More 'normal' cars, like mine, are quite a bit less. When I discussed the insurance value of my car with them, they talked about a rebuild, as a have a few oil leaks, but it was rebuilt 30K miles ago, it certainly doesn't leak on the driveway, pulls like a train etc, so a rebuild would be of no benefit to me at this time. The interior could do with a really good clean up and reconalisation, but a retrim, again, would be of no benefit to me. I would like to properly sort out the bodywork, which I am doing bit by bit, so I can see that being a of real benefit, although I would probably be too frightened to take it out, I had the bonnet resprayed a could of years ago and one trip to the South of France has seen it peppered with chips again, so a film would need to be applied after any potential respray (approx £2K, I understand).

Be careful when paying these premium prices, is all I say, and make sure you are getting what you should be getting for the price being charged.

andrew_churcher · Aug 28, 2014

ORIGINAL: colin129

I would like to properly sort out the bodywork, which I am doing bit by bit, so I can see that being a of real benefit, although I would probably be too frightened to take it out, I had the bonnet resprayed a could of years ago and one trip to the South of France has seen it peppered with chips again, so a film would need to be applied after any potential respray (approx £2K, I understand).

Colin - worth having a chat to Paintshield. I think the front half can be done in film for c1-1.3k. This is enough to ensure it doesnt get stone chipped. I have their film on my 964 and no chips or marks after 2+ years since I had the paintwork done (this incls some trackdays). Happy to show you some time if you are interested.

mcgc0 · Aug 28, 2014

Dave, I'll give you £15k now - see 4k profit in a year... go on..

Like I said before, the money I would want for it may not be it's 'true market' worth but instead what it would cost to a) find a replacement in the first place b) the cost of 'getting back what you had' - the engine, suspension, clutch, brake, interior improvements etc then b) the stress and hassle of just getting back to square one again. I felt that pain over a 6 month period and barely broke even (without including the time others spent helping me).

Part of the reason I got the 968S was to take the 'drive it hard' strain or risk off the 964 (in terms of frequency). Also, creeping into the valuation argument is, is originality (i.e. as per factory order) better? I've had a brand new whole black interior sat on my shelving for 18 months now thinking I was going to replace my linen leather interior. Now I'm not so sure - but no offers please ;-)

Colin, I had the grey 964 after the restore done with that paintshield stuff - bonnet, wing fronts, mirrors etc. Good it was too but it still didn't bounce off that concrete garden wall near Brionne on the way to Le Mans...!